Libbey Will Purchase $320M Outstanding $360M Notes

Libbey LBY("Libbey" or "Company") announced today that its wholly owned subsidiary, Libbey Glass Inc. ("Libbey Glass"), has commenced a cash tender offer (the "Tender Offer") to purchase up to $320.0 million ("the Tender Cap") of its outstanding $360.0 million aggregate principal amount of 10% Senior Secured Notes due 2015 (the "Notes"), plus accrued and unpaid interest to, but excluding, the applicable settlement date. In conjunction with the Tender Offer, Libbey Glass is also soliciting consents (the "Consents") for certain proposed amendments (the "Proposed Amendments") to the indenture governing the Notes (the "Indenture") that would eliminate substantially all of the restrictive covenants, modify certain of the events of default and other provisions of the Indenture and release all of the collateral securing the obligations under the Notes (the "Consent Solicitation" and, together with the Tender Offer, the "Offer").